February 5, 2019

Palo Alto Networks to fortify incident response prowess with Demisto buyout

The acquisition aims to leverage Demisto’s SOAR (Security Orchestration Automated Response) capabilities in a bid to combat cyber risks.

U.S.-based security firm Palo Alto Network (PAN) is all set to acquire incident response specialist Demisto to strengthen their end-point security capabilities. With this acquisition, PAN will leverage Demisto’s SOAR prowess to take on virus and malware attacks.

PAN believe that today, data is stored at the endpoints which makes it essential to protect them. They say that with the rise of cloud technology, this cybersecurity is gaining prominence since the data stored at endpoints keeps increasing in volume.

In a bid to protect enterprise data that resides at the endpoints, PAN will be acquiring Demisto to fight against myriad cyber attacks. They believe that by acquiring Demisto, their cybersecurity portfolio will be more comprehensive with a wider variety of security solutions.

Demisto announced that it secured a USD 46 million Series C funding by Grey partners to bring their total equity funding to USD 69 million. Industry-watchers claim that this funding has made Demisto one of the most coveted cybersecurity brands in the cloud-security and threat response segment.

According to PAN, adding a managed security provider with threat response capabilities was on their radar ever since they purchased Evident.io for USD 300 million last March. They believe that Demisto’s acquisition will not only allow their security analysts in handling tasks but also entice a new segment of customers.

In closing, PAN did not reveal any financial details, but they said that the deal will close very soon. It will be interesting to see how PAN make the most of this deal, following the acquisition of Secdo for USD 100 million last year.